MIAMI LAKES, Fla.--(BUSINESS WIRE)--Dec. 13, 2012--
BankUnited (NYSE: BKU) today announced it provided more than $145
million in loans for Maitland-based CED Companies, which specializes in
building affordable multifamily communities, and its affiliate Concord
Management Limited, a national leader in property management of
affordable multifamily rental housing communities.
BankUnited’s Patrick Fitzgerald, vice president of commercial real
estate in Orlando, worked with CED Companies CEO Alan Ginsburg and
Executive Vice President Brian Spear to provide refinancing for 10
multifamily rental properties comprising more than 3,000 units, as well
as for the Maitland headquarters of Concord Management Limited. The
multifamily properties are located in Orlando, Oviedo, Kissimmee,
Sanford and Daytona Beach. Many of the loans qualify for CRA credit
based on the income- and rent-restricted nature of the properties.
“Signifying BankUnited’s ongoing commitment to ensuring real estate
companies have access to credit, our lending team worked diligently to
put together a substantial refinancing package for CED Companies and its
affiliate Concord Management,” said Nic Bustle, senior executive vice
president, corporate lending. “As a prominent and successful developer
of multifamily and affordable housing, CED and its executives are paving
the way for strengthening real estate development throughout Central
Florida.”
BankUnited (NYSE: BKU), headquartered in Miami Lakes, Fla., provides a
wide range of commercial and consumer banking services to businesses and
consumers in 15 Florida counties through more than 95 branches. For
additional information, call (877) 779-2265 or visit www.BankUnited.com.
Source: BankUnited
For BankUnited
Amy Hoffman, ext. 228
ahoffman@piersongrant.com
Maria
Pierson, ext. 222
mpierson@piersongrant.com
954-776-1999
or
Mary
Harris, 305-817-8117
MHarris@BankUnited.com
